Lease Automatic Custody Transfer (LACT)
Definition - What does Lease Automatic Custody Transfer (LACT) mean?
Lease automatic custody transfer (LACT) is a unit that facilitates definite measuring of petroleum products from one custody of legal commodity to another. It is the best way to sell crude oil on lease. It measures the quantity and net volume of liquid hydrocarbons. The entire system includes sampling, automatic measurement and transfer of oil into a pipeline from a lease location. Rail LACT or trucks can be used in remote locations which are not accessible by the existing pipelines.
Petropedia explains Lease Automatic Custody Transfer (LACT)
Petroleum products are very crucial in the oil and gas industry, thus precautionary measures are taken to save every drop while transferring oil from one place to another. To accomplish the essential demand, the oil and gas industry has build an important tool known as the lease automatic custody transfer unit. As a number of important operations are carried out, various distinct LACT units are available that work differently. It operates in conjunction with an open feed line to stock-tank. It is also possible that LACT units can be used to unload oil vessels for future injection into a pipeline.